CPI enters a sixth state as it expands its national chronic pain platform
NASHVILLE, Tenn. and EDINA, Minn. (May 3, 2023) – Iron Path Capital, a private equity firm focused on building differentiated businesses in the healthcare and specialty industrials sectors, is pleased to announce that Capitol Pain Institute (CPI) is entering the Minneapolis-St. Paul metropolitan market via the acquisition of Nura Pain Clinics (Nura). This partnership expands CPI’s network of clinics and ambulatory surgical centers (ASCs) in the Midwest, strengthening the ability to provide exceptional care to patients with chronic pain in the region. CPI’s expansion to Minnesota marks the company’s sixth state in its national platform. CPI currently operates in Colorado, Indiana, Kentucky, Ohio, and Texas.
Minnesota is one of the fastest-growing states in the Midwest and is known for having a high-quality healthcare system. According to a Commonwealth Fund report, Minnesota ranks second in the United States for healthcare access, quality, and outcomes. This made it an attractive and natural next entry market for CPI.
“We are thrilled to continue growing our national network, and I feel very strongly that Nura Pain Clinic is the right team with whom to enter the Minnesota market,” said CPI founder and CEO Matt Schocket, M.D. “Nura’s commitment to providing personalized and patient-centric care aligns with our values at CPI. We are excited to work together as we expand our reach and treat more patients battling chronic pain with the innovative care they deserve.”
“Joining forces with CPI allows us to continue providing our patients with advanced quality care they have come to expect from Nura, while also giving us access to additional resources that will help us expand our services,” said Nura founder and CEO David Schultz, M.D. “We look forward to working with CPI and providing exceptional care and improving the lives of patients across Minnesota suffering from chronic pain.”
Nura is recognized in Minnesota and the overall Interventional Pain Management (IPM) community for its expertise in intrathecal pain pump implants and spinal cord stimulator implants. Dr. Schultz is a thought leader who has published multiple research studies on the efficacy of these treatments. A study designed by Dr. Schultz and subsequent article published in the Neuromodulation Journal found that 94% of patients reported improved pain control after pump implantation, 77.6% reported improved physical functioning, and 38.9% completely discontinued oral medication. Once a pain pump is implanted, it needs to be regularly refilled. To best serve patients, Nura also provides pharmacy and home care services to ensure the quality of their medication, as well as support patients who may be immobile or lack caretakers to bring them to the clinic for refills.
“Iron Path is investing behind Nura because of its strong clinical leadership in Dr. Schultz, reputation for compliance and quality patient care, high mix of specialty procedures, and contribution to scientific research that advances the entire IPM field,” said Iron Path Capital co-founder Rob Reistetter. “We are excited to have him join us as Chief Medical Officer of the Capitol Pain platform.”
CPI and Nura are committed to providing the most advanced, evidence-based pain management treatments available. The team of expert physicians and support staff work together to create individualized treatment plans tailored to each patient’s unique needs that are holistic and multidisciplinary, with the goal of reducing pain, improving function, and enhancing overall quality of life.
“As we embark on this journey with a new partner, we’re excited to advance our mission in finding the right talent and partnerships to bring our chronic pain treatment platform nationwide,” said Iron Path Capital co-founder Scott Mraz. “We look forward to the future and the positive impact on our partners, patients, and communities we serve.”
About Capitol Pain Institute
Capitol Pain Institute (CPI) is a leading interventional pain management platform with clinics and ambulatory surgical centers across the United States. CPI offers a customized and multi-disciplinary approach to chronic pain treatment, with particular focus on advanced procedures such as spinal cord stimulator implants. CPI partners with physicians and practices that share a common goal of providing high quality, compassionate care at a reasonable cost. The company is also committed to enhancing the communities in which they serve and investing in the advancement of the field of pain management through innovation and evidence-based medicine. CPI was founded by Dr. Matthew Schocket in Austin, Texas in 2007. For more information, visit CapitolPain.com.
Capitol Pain was advised by Brown, Gibbons, Lang, and Company for this transaction.
About Nura Pain Clinics
Nura (formally MAPS Medical Pain Clinics) was founded in 1995 by David Schultz, MD, a pioneer in interventional pain management. In his work as a practicing anesthesiologist in the 1990s, Dr. Schultz realized the need to treat chronic pain patients with a more comprehensive approach and went on to establish the region’s first multidisciplinary pain management clinic, coordinating high tech interventional procedures with in-house physical therapy and psychology services. Nura is nationally recognized as a center of excellence for implantable pain control and one of the leading research centers in the U.S. for trials and implants of neuromodulation devices. Nura’s mission is to improve the lives of people living with the most complex chronic pain through exceptional care. For more information, visit nuraclinics.com.
About Iron Path Capital
Iron Path Capital is an operationally focused private equity firm focused on lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships to achieve significant scale. Iron Path Capital selects companies with stable cash flows, superior management teams, strong performance trajectories, and multiple vectors for growth, both organic and through consolidation. For more information, visit ironpathcapital.com.
Iron Path Capital Contact:
Rob Reistetter, managing partner